WORLD CRISIS WEEKLY WRAP-UP! (April 27 -- May 01, 2009)

• US Banks Shutdown Tally got to  32!
• Japan Keeps Rate 0.1%!
  
• US FED Kept Monetary Policy Unchanged!
  
• FED Is said to seek capital for 6 Banks !
  
• Bank of America May Need  $70 b, after stress test!…
  
• Global fiancial crisis to last another year!
  
• Japan Retail Sales drop for a 7th month!!
• Flu dampens world economy hopes!
  
• Estados Unidos Declara Estado de Emergencia por Flu.
  
• Russia may seek world bank loan.
  
• México flu outbreak threatens to worsen economic woes! …
  
• World stocks markets were shaken by flu!
• China’s current account surplus to shrink. Nothin to worry about?
  
• México declares state of emergency on flu deaths!
• Swine flu spread from Mexico, prompting the World Health Organisation to declare a pandemic imminent.
• Rafael Correa won Ecuador’s presidential election, Legislative majority. Lower oil prices, falling remittances from 2m abroad.
• Obama 100 days as President,  high 68% approval. NYT/CBS 72% of population optimistic.  
• S Africa’s ruling African National Congress won to elect ANC’s leader, Jacob Zuma, as president. 
• N Korea again reprocessing fuel rods. Threatened to carry out nuclear and missile tests unless the United Nations apologised.
• US GDP -6.1% 1st q. Previous - 6.3%. 3th q. fall = 1973-75 and 1981-82 recessions. 38% plunge bus. investment, steepest ever! 
• US house prices still plunged by record rates in ten of the 20 cities covered by the S&P/Schiller index.
• Car companies reported grim quarterly earnings numbers. Daimler, Honda, Volvo, Ford. 
• EC wants more regulation for hedge and private-equity funds > €100m. Industry would be crippled: Fund Managers.
• Japan Ind Prod. +1.6% March, -9.4% Feb. 1st 6 months, twice forecast, inventories cuts may now have run their course.
• Britain’s GDP  -1.9% 1st q. Worst was manufacturing -6.2%. Services -1.2%.
• S. Korea’s exports -17.8% March. Imports -35.8% = current-account surplus $6.65 b, from $3.56 b Feb.
• Brazil cut rate 1% point, to 10.25%, New Zealand’cut rate 1/2 % point, to 2.5%, both record lows.

PREVIOUS WEEK (April 20 — April 25, 2009)

• India held the second of five rounds of voting in its month-long general election.
• UK Gov. said GDP -3.5% in 2009/10, worst since 1945. Top income-tax up to 50%. Public debt to double to 80% of GDP by 2013/14. 
• UBS continued to shrink. Sold Pactual, a Brazilian investment bank, for $2.5 b, Credit Suisse profits, exceeded expectations.
• BofA $4.2 b net profit, thanks to Merrill Lynch. Citigroup 1st profit in 6q. Wells Fargo earnings up too. But Morgan Stanley -$177m.
• Japan’s 2nd-largest bank, Mizuho, worse than expected losses of about $5.9 b, after suffering falls in shareholdings,  loan losses.
• IMF: Bank write-downs will hit $4.1 t, will need more capital to survive. World to shrink by 1.3% this year, 1st in 60 years.
• Germany Ec. Sentiment 1st positive since 2007, worst is over? Critics said current conditions continued to slump.
• Deflation threat continues. German Producer inflation down. UK retail inflation fell 0.4% , first since 1960.
• Japan exports -45.6%. Imports -36.7% on a year earlier, which caused Japan’s monthly trade surplus to shrink.
• Germany Producer Inflation fell by 0.5%, 1st since 2004, biggest since  2002. Investor confidence, up to 13 from -3.5 a month earlier.
• UK Inflation fell to 2.9% in March from 3.2%. Retail Inflation -0.4% in the year to March.
• Sweden cut rate by 1/2, to 0.5%. India to 4.75%, and -1/4 % point from its reverse repurchase rate, to 3.25%. Sixth in 6 months.
• Australia inflation up 2.5% in 1st q. Prices+0.1% over previous quarter, weakest in 18 months!.
• Venezuelan Bolivar devalued further.
• G-20: Half ignore pledge to avoid protectionism!
• Ireland Deflation sounds alarm for Europe!
• European Services, Manufacturing contracted for 11th month!
• U.K. Financial Bailout Totals Equal GDP!
• ¡México se desplomará 3.7% en 2009!
• América Latina Entrará en Recesión Este Año!
• Malaysia Inflation Slows to an 11th month low!
• World Crisis Losses May Hit $4.1 Trillion…WOW!
• UK Deficit Largest Since WWII!
• Bear Market Still in Its Infancy!
• US Budget Deficit May Soar To 4 Times Last Years’!
• S. African Banks Will Have a Very Tough Year!
• México To Cut Rate To 5% As GDP Shrinks!
• Emerging Markets Credit…..Worsens!
• India Unexpectedly Cut Rate on Growth Worries!
• US Firms: Pessimistic!
• US Stocks Tumble on Concern Over Banks!
• US Leading Index Shows Recovery Far Away!
• Australia To Be Dragged Into Recession!
• IMF Easier Lending Promps Bondholder Anxiety!
• Indiana Jobless Reaches 10%, joins 7 other States!!…